SEOUL– South Korea’s electricity consumption continued to rise in May amid an accelerating economic rebound, data showed Friday.
Asia’s fourth-largest economy used 40,842 gigawatt-hours (GWh) of power in May, up 6.6 percent from a year ago, according to the data from the Korea Electric Power Corp. (KEPCO).
It marked the seventh consecutive month for the power consumption to increase on-year.
By segment, power consumption of the industrial sector rebounded a whopping 10.3 percent, and that of shops and offices also advanced 3 percent, according to KEPCO.
South Korea’s finance ministry recently raised its 2021 growth outlook for the country’s economy amid robust exports and reviving consumption. The government forecast its economy to expand 4.2 percent this year, up from its December estimate of 3.2 percent.
Source: Yonhap News Agency